Americas & the Caribbean

Child & Youth Finance International (CYFI) aims to increase financial inclusion, financial literacy, and entrepreneurship among young people throughout the Americas and the Caribbeann.

CYFI has supported many financial education initiatives in Latin America. In Chile, for example, CYFI played an important role in the creation of what is known as "mesa de trabajo de educación financiera" which was the first effort to formalize financial education in the country. In Colombia CYFI has assisted the committee for the National Strategy on Financial Education in the implementation of a national mapping of financial education programs, and in the Dominican Republic CYFI encouraged the implementation of a baseline survey one of the initial steps towards the developing of a national strategy for financial education.

Financial inclusion has gained more and more attention after the implementation of financial education strategies in most Latin American countries. CYFI plays an important role in relation to financial inclusion. Guatemala for example is currently developing a national strategy for financial inclusion and CYFI has supported in the coordination of the different bodies related to the strategy. Also, Paraguay has a secretariat for the financial inclusion strategy and with them CYFI works on increasing financial inclusion for youth.

Over the years Global Money Week has been a widely celebrated financial inclusion and education initiative. Both the direct and indirect reach via media to children and youth has made Latin America one of the most prominent regions in relation to Global Money Week. This year a Regional Rally was organized to connect all Latin American participating entities in order for them to celebrate Global Money Week conjointly.

There has been a sharp increase in the interest of public and private partners of CYFI in the Latin America region in SchoolBank. In various countries such as Colombia and El Salvador SchoolBank pilots are being enrolled. CYFI plays an integral role in this by assisting financial service providers with their product development and at the same time evaluate the financial education content that is developed by Ministries of Education.

There has been a sharp increase in the interest of public and private partners of CYFI in the Latin America region in SchoolBank. In various countries such as Colombia and El Salvador SchoolBank pilots are being enrolled. CYFI plays an integral role in this by assisting financial service providers with their product development and at the same time evaluate the financial education content that is developed by Ministries of Education.